More than half of the record activity was in the hands of three oil companies

2023-12-19 03:15:00

Activity in Vaca Muerta It remained accelerated throughout 2023 and although it was less than anticipated, it was enough to reach the absolute record, one month before the end of the year. The state-owned oil company was the clear driver of the sector and together with two other private companies concentrated more than 66% of the fracturing work in the formation.

According to the latest report from the NCS Multistage firm, Vaca Muerta companies carried out some 13,597 fracturing stages between January and November of this year. The data showed that in 11 months of 2023, almost 11% more fractures were performed than those completed in all of 2022.

All that remains is to know the data for this current month, which will be available in the first days of January, to know the details of this year’s record and What will be the mark to surpass in 2024.

According to data, Vaca Muerta has a clear leader in the shale work activity, which is YPF and that, thanks to new technologies and efficiency, he broke his personal record this year. The company carried out some 6,380 fracturing stages in 2023, which means that it concentrated almost 47% of all activity this year.

fractures carried out by YPF during the first 11 months of the year, it broke its annual record, 1 month before the end of the year.

Regarding 2022, the company lost share of the total, although it carried out more work this year. This is a good indicator for the industry because it means that the majority-state oil company continues to grow in jobs, while other companies add activity in parallel.

The other two companies that had a high level of jobs – although significantly lower than YPF – are Miguel Galuccio’s oil company, Vista, and the Bulgheroni family company, Pan American Energy (PAE).

On the one hand, Vista carried out some 1,433 stages in its shale fields, while PAE completed about 1,190 fractures. So far this year, they are the only two oil companies that have surpassed the 1,000 stage line, in addition to YPF.

The level that these companies showed meant that, of the 13,597 stages that were carried out this year, Vista concentrated almost 11% of the total, while PAE 8.75%. Adding up the record work that YPF did in 2023, among the three most active companies in Vaca Muerta they led the activity with 66.31% of the fracture stages.

If you take into account the total activity that took place during the first 11 months of the year, the monthly average is 1,236 fractures. The projection for this year was about 1,400 per month, something was not fulfilled, although it was touched upon in September when 1,398 stages were completed.

Vaca Muerta: how was the activity of the other companies

The other 33% of the fracturing activity in Vaca Muerta was in the hands of the 8 oil companies that accompanied the work during the year. These are Tecpetrol, Shell, Pluspetrol, TotalEnergies, Pampa Energía, Phoenix Global Resources, Chevron and Capex.

Ordered from largest to smallest, The Techint Group oil company carried out some 883 fracturing stages this year (6.49%), while Shell about 800 (5.88%). They are the only two companies on this list that surpassed that floor.

Pluspetrol followed with 752 (5.53%); very closely TotalEnergies with 730 (5.37%); Pampa Energía with 631 (4.64%); Phoenix made another 453 (3.33%); Chevron another 317 stages (2.33%) and, finally, Capex with 28 (0.21%).

#record #activity #hands #oil #companies

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.